Infinity Pharmaceuticals, Inc., (INFI), is a biopharmaceutical company developing drugs for cancer patients. Its product candidate is eganelisib (IPI-549) which is orally administered. It has immuno-oncology therapeutic potential. It is mostly proven beneficial for the treatment of breast cancer, tumors, and ovarian cancer in the Phase 1 trials. Infinity Pharmaceuticals has several other coalitions to discover, develop and commercialize products targeting delta and gamma isoforms of P13K and duvelisib.
On December 9, 2021, the stock price of Infinity Pharmaceutical during the regular trading hours was $2.32. While at the time of the last check the stock rises by 0.52% to $2.33 in the regular trading hours of December 10, 2021.
Events and Happenings
On December 10, 2021, during the 2021 San Antonio Breast Cancer Symposium (SABCS), INFI presented updated data from the MARIO-3 clinical study. The Company’s ongoing Phase 2 study MARIO-3 is assessing eganelisib in combination with atezolizumab (Tecentriq®) and nab-paclitaxel (Abraxane®) in frontline metastatic triple-negative breast cancer (TNBC). The data is taken from 50 patients.
Key Financial Figures
On November 2, 2021, INFI reported the third quarter financial updates which ended on September 30. Some of the key updates are as follows
The total assets of the company reported during Q3 2021 were $94 million while the assets reported for the same duration of 2020 were $46 million.
Earnings per Share
Net loss for the Q3 2021 was $10.7 million, or basic and diluted loss per share of $0.12, compared to a net loss of $9.5 million, or a basic and diluted loss per common share of $0.16 for the same period in 2020.
Total revenue for the third quarter of 2020 was $0.49 million versus $0.42 million for the same duration of 2021.
On November 22, 2021, Infinity Pharmaceuticals, Inc. announced that the management of the company will present the company at the upcoming Piper Sandler 33rd Annual Virtual Healthcare Conference. The presentation also included a dialogue with Ted Tenthoff, Piper’s Senior Biotech Analyst.
The stock of INFI is on a steady rise in the market due to various factors such as the company’s announcement of a positive Phase 2 study of MARIO-3. Since the investors are placing their trust in the company’s ventures, there is hope for the stock to surge more soon.